- What Is Bitcoin Cash and Why Buy It?
- Step 1: Choose a Bitcoin Cash Wallet
- Step 2: Select a Cryptocurrency Exchange
- Step 3: Create and Verify Your Account
- Step 4: Deposit Funds
- Step 5: Buy Bitcoin Cash
- Step 6: Transfer BCH to Your Wallet
- Alternative Ways to Buy Bitcoin Cash
- Bitcoin Cash FAQ
- Final Tips for Safe Trading
What Is Bitcoin Cash and Why Buy It?
Bitcoin Cash (BCH) emerged in 2017 as a fork of Bitcoin, designed to solve scalability issues with faster transactions and lower fees. As a decentralized cryptocurrency, it enables peer-to-peer payments without intermediaries. With growing merchant adoption and practical usability for everyday purchases, learning how to buy Bitcoin Cash opens doors to efficient digital transactions. This guide covers everything from setup to security.
Step 1: Choose a Bitcoin Cash Wallet
Before buying BCH, you need a secure wallet to store it. Wallets come in several forms:
- Hardware Wallets (Most Secure): Ledger Nano X, Trezor Model T – Offline storage protects against hacking
- Mobile Wallets (Convenient): Exodus, Bitcoin.com Wallet – User-friendly apps for iOS/Android
- Desktop Wallets: Electron Cash – Open-source software for advanced users
- Web Wallets: Guarda – Browser-based access (less secure than hardware)
Tip: Always back up your recovery phrase offline. Never share private keys.
Step 2: Select a Cryptocurrency Exchange
Exchanges are platforms where you trade fiat currency (USD, EUR) or crypto for BCH. Consider these factors:
- Fees (trading & withdrawal)
- Payment methods (bank transfer, card, PayPal)
- Security features (2FA, insurance)
- User experience
Top Exchanges for Buying Bitcoin Cash:
- Coinbase – Best for beginners
- Binance – Low fees & high liquidity
- Kraken – Advanced trading tools
- eToro – Social trading features
Step 3: Create and Verify Your Account
- Sign up with email and password
- Enable two-factor authentication (2FA)
- Complete KYC verification: Submit ID (passport/driver’s license) and proof of address
- Wait for approval (usually 1-48 hours)
Note: Exchanges require verification to comply with anti-money laundering laws.
Step 4: Deposit Funds
Funding options vary by exchange:
- Bank Transfer: Low fees but slow (1-5 business days)
- Credit/Debit Card: Instant but higher fees (3-5%)
- Crypto Deposit: Send BTC or ETH to exchange for BCH
- Other Methods: PayPal, Apple Pay (limited availability)
Step 5: Buy Bitcoin Cash
- Navigate to the trading section
- Select BCH trading pair (e.g., BCH/USD)
- Choose order type:
- Market Order: Buy instantly at current price
- Limit Order: Set target price (executes when reached)
- Enter purchase amount
- Confirm transaction
Step 6: Transfer BCH to Your Wallet
Never leave crypto on exchanges long-term! Withdraw to your personal wallet:
- Copy your BCH wallet address from your private wallet
- Paste it in the exchange’s withdrawal section
- Double-check address accuracy
- Confirm withdrawal (may incur small network fee)
Alternative Ways to Buy Bitcoin Cash
- Peer-to-Peer (P2P) Platforms: LocalBitcoins, Paxful – Trade directly with sellers
- Bitcoin ATMs: Use cash at physical kiosks (higher fees)
- Decentralized Exchanges (DEXs): Bisq – No KYC required
Bitcoin Cash FAQ
Q: Is Bitcoin Cash the same as Bitcoin?
A: No. Bitcoin Cash (BCH) split from Bitcoin (BTC) in 2017. BCH has larger block sizes (32MB vs. 4MB), enabling faster/cheaper transactions.
Q: What’s the minimum amount I can buy?
A: Most exchanges allow purchases as low as $10-$20 worth of BCH.
Q: How long do transactions take?
A: BCH transactions typically confirm in 10 minutes, versus Bitcoin’s 30+ minutes.
Q: Are Bitcoin Cash purchases taxable?
A: Yes, in most countries. Consult a tax professional regarding crypto regulations in your jurisdiction.
Q: Can I buy BCH anonymously?
A: Fully anonymous purchases are difficult due to KYC laws. P2P platforms or DEXs offer partial anonymity.
Q: What’s the current Bitcoin Cash price?
A: Prices fluctuate constantly. Check real-time rates on CoinMarketCap or CoinGecko before buying.
Final Tips for Safe Trading
- Start with small purchases to test the process
- Use hardware wallets for large holdings
- Monitor transaction fees – BCH fees are typically under $0.01
- Bookmark your exchange/wallet sites to avoid phishing scams
With this guide, you’re equipped to securely buy, store, and use Bitcoin Cash. Always prioritize security and stay informed about market trends!
